Own the Process and Avoid the Fire Drill

Own the Process and Avoid the Fire Drill

Effectively managing a case and client expectations can help minimize the creation of the dreaded fire drill.

Following some key steps can aid in a smoother case management process. The following scenario gives examples of the key steps that help you to avoid the fire drill.

Scenario:

A partner receives a call from Jack Smith, the owner of an electronics store chain. Mr. Smith suspects that his bookkeeper has been stealing from the business. He wants to know how we might be able to help and what we will need from him in order to proceed.

The Process:

1. Explain the process and set expectations:

Before engagement letters are signed, fees are paid or work begins, explain the general process to the business owner. Let them know that depending on many different factors (i.e., organization of the books and records and cooperation of the parties involved), timing for the completion of the investigation and the cost will vary. This is a time consuming and costly process. There are no guaranteed results.

2. Understand the end game:

What does the business owner want out of the investigation? Why does the business owner suspect stealing? Are there specific examples and supporting documentation he can provide? Is he concerned with the accounts payable? Does he suspect the bookkeeper has set up a fictitious vendor in order to steal from the company? The more information we have, the more concentrated our investigation can be.

3. Send an engagement letter:

Once a retainer fee and terms of the engagement are agreed upon, we will need to send out an engagement letter. Once the signed engagement letter and retainer fee is received, the internal process may begin.

4. Assign a team:

A manager and staff member should be assigned to every case. This team will be responsible for moving the case along day-to-day and providing the partner with a final work product for review. Assigning more than one team member to a case gives the client specific people to contact with any questions and aids in quicker response time.

5. Send initial document request:

The more information we received from the initial call or in person interview, the more specific our initial document request can be. Also, the more specific the document request, the more efficient the process will be. Documents that may be needed in this case would include but are not limited to:

  1. Electronic QuickBooks files (3-5 years are contained in one file)
  2. Listing of vendors
  3. Any contracts with vendors

Always let the client know that upon review of documents, additional documentation may be requested. In this case, once the above information is received an A/P listing can be run and specific vendor invoices can be requested for any items or vendors in question.

6. Follow Up:

Once the initial document request is sent by the assigned staff, regular follow up with the client is important. Communicate all issues to the client in a timely fashion. If a staff member is unsure if an issue should be addressed with the client, the issue should be brought to the attention of the manager.

7. Communication:

Communication with the client and the internal team is vital to the success of the project. Every case is different and is rarely straightforward. As long as you are communicating issues with the team and if necessary the client, bigger issues can be avoided. Continual communication with the client will let them know you are working and making progress on the case.

Take away:

You never know what direction a case may take or how complicated it may become. However, if the team is communicating, following up and managing client expectations the case is more likely to run smoothly and any bumps in the road will be more manageable.

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